The following is a listing of all of the income statement accounts for Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31. Advertising Expense Cost of Goods Sold Delivery Expense Insurance Expense Income Tax Expense Rent Expense Interest Expense Sales Revenue Sales Discounts Sales Returns & Allowances $10,800 88,500 5,500 1,400 5,800 12,000 1,100 160,500 9,200 17,500 Required: a. Prepare a multistep income statement. b. Compute the gross profit percentage